TLDR:
- Augment, an AI coding assistance startup, raised $227M in Series B funding at a $977M valuation.
- The company plans to use the funds to accelerate product development and expand its product, engineering, and go-to-market functions.
Article Summary:
Augment, a Palo Alto, CA-based AI coding assistance startup, recently secured $227M in Series B funding at a valuation of $977M. The funding round was backed by prominent investors including Sutter Hill Ventures, Index Ventures, Innovation Endeavors, Lightspeed Venture Partners, and Meritech Capital. The company, founded in 2022 by industry veterans Igor Ostrovsky and Guy Gur-Ari, aims to revolutionize the development process for software teams by providing AI coding assistance. With a platform optimized for large codebases, high speed operations, and support for multiple developers and teams, Augment’s offerings are already SOC-2 Type 1 compliant and pen-test validated for added security.
Augment’s leadership team, including Scott Dietzen and Dion Almaer, brings extensive experience from companies like Pure Storage, Google, and Yahoo! The company emerged from stealth mode in 2024 and is focused on accelerating product development and expanding its market presence with the new funding. Augment’s innovative approach to AI coding assistance has the potential to reshape how developers and software teams collaborate and create solutions.
Overall, Augment’s successful Series B funding round and high valuation reflect the strong investor interest in AI-driven software development tools and the company’s potential to disrupt the industry with its advanced platform.
